A cash deposit has been placed for the former Chairman of the Public Utilities Commission of Sri Lanka (PUCSL) Janaka Ratnayake to contest the 2024 Presidential Election.

Janaka Ratnayake has been named the Presidential candidate of the ‘United Lanka Podujana Party’.

Secretary of the party, Nihal Premakumara Deshapriya placed a bond on behalf of Janaka Ratnayake at the National Election Commission today. (Newswire)

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The former Chairman of the Public Utilities Commission of Sri Lanka (PUCSL) Janka Ratnayake says he is the future President of Sri Lanka.

Speaking during a media briefing, Ratnayake said he had officially announced his candidacy via a newspaper article recently.

“I have the ways in which Sri Lanka’s economy and income can be improved. I will definitely contest the Presidential Election,” he said. 

Commenting on the recent islandwide power failure, Ratnayake said a Gazette had been issued in 2022 by him, as the PUCSL Chairman, with recommendations on preventing such a power outage. 

He said, however, that the subject minister and other relevant officials have failed to implement the recommendations, due to which the government was unable to restore power even within five hours of the recent power outage.

Janka Ratnayaka was removed from his post of PUCSL Chairman following a Parliament vote this year. A motion was submitted against him, following an escalating spat with Minister of Power and Energy Kanchana Wijesekera. (NewsWire)

The former Chairman of the Public Utilities Commission of Sri Lanka (PUCSL) Janka Ratnayake says he is the future President of Sri Lanka. pic.twitter.com/WDefVVRKCQ

— NewsWire (@NewsWireLK) December 11, 2023

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Investigations into the alleged death threats against the ex-Chairman of the Public Utilities Commission of Sri Lanka, Janaka Ratnayake have been handed over to the Colombo Crimes Division(CCD).

Police spokesman SSP Nihal Thalduwa said the investigations have been handed over to the CCD on the directives of the Deputy Inspector General of Police (DIG) in charge of the Western Province.

Janaka Ratnayake had filed a complaint with the Kirulapone Police on Monday (Oct 16) claiming that he had been issued death threats and had been demanded money. 

Ratnayake was removed as the Chairman of the PUCSL after a motion was passed in Parliament in May this year.

The Parliamentary motion was presented after several spats between Ratnayake and Minister of Power and Energy Kanchana Wijesekera, ranging over various matters, including electricity tariff revisions and duration of power cuts. (NewsWire)

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Former Chairman of the Public Utilities Commission of Sri Lanka (PUCSL) Janaka Ratanayake says he will contest the next Presidential Elections.

Addressing the media yesterday (24), Ratnayake said that he has decided to contest based on multiple requests made in this regard.

Janaka Ratnayake further stated that he is sure of obtaining the public’s support for the Presidential Elections. 

Commenting on the Parliamentary motion to remove him from the post of PUCSL Chairman, Ratnayake stated that he knew the outcome and was prepared to face it. 

He stated that following his removal it will be easy for the authorities to appoint an unsuitable individual who will be under their command. 

A motion on the removal of Janaka Ratanayake from the post of PUCSL Chairman was taken up for debate in Parliament yesterday and was passed with a majority of 43 votes. (NewsWire)

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The motion to remove the Chairman of the Public Utilities Commission of Sri Lanka (PUCSL), Janaka Ratnayake was passed in Parliament today. 

The Parliamentary motion was passed with a majority of 46 votes, with 123 MPs voting in favour and 77 MPs voting against it. 

The debate on the motion was held in Parliament from 10.30 am to 05.00 pm today, after which it was taken up for a vote.

The Parliamentary motion against Janaka Ratnayake was presented as per Section 7 of the Public Utilities Commission of Sri Lanka Act.

The debate comes after several spats between Ratnayake and Minister of Power and Energy Kanchana Wijesekera, ranging over various matters, including electricity tariff revisions and duration of power cuts. (NewsWire)

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The Public Utilities Commission of Sri Lanka (PUCSL) has called for a 20% reduction in electricity tariffs.

PUCSL Chairman Janaka Ratnayake said in a statement that consumers should receive an immediate electricity tariff reduction due to reduced electricity demand in Sri Lanka, a drop in exchange rates, and a reduction in fuel prices.

Full statement:

The Chairman of the Public Utilities Commission of Sri Lanka Janaka Ratnayake says that the electricity consumers should receive an immediate electricity tariff reduction of approximately 20 per cent given the reduced electricity demand in Sri Lanka, reduced exchange rates, and reduction of fuel prices.

“According to the tariff requested by CEB on 5th January this year, CEB had estimated an electricity demand of 16,520 GWh for 2023, expecting a revenue of Rs. 722 billion for CEB, from energy sales. But PUCSL forecasted a generation demand of 15,031.42 GWh for 2023. Our demand forecast has been proven by actual demand for January to April and the reduced demand forecasted by CEB for the rest of the year. According to CEB’s revised demand forecast, total demand for the year 2023 will be 15,377 GWh which is very close to the demand that we forecasted early this year. That was the main rationale in our staff’s tariff recommendation which limited a tariff increase below 35%,” Janaka Ratnayake said. 

Ratnayake further stated that this proves the 35 per cent tariff increase suggested by the staff of the PUCSL is on par with the actual demand forecast which didn’t materialise due to the majority of the Commission members approving the CEB proposal as it is.  

“The latest forecast by CEB shows a reduction of 6% from the initial forecast in January (5/1/2023). Actual data shows in the months of March and April, the actual generation was 10% and 8% less than the initial forecast by CEB. Accordingly, the latest forecast is also on the higher side and actual demand for 2023 can be even lower. Therefore, the actual total revenue of 2023 for the distribution licensees could be lower than Rs. 658 billion. If we were able to implement the PUCSL’s staff-recommended low tariff hike, we wouldn’t need frequent tariff revisions and such low tariff will ensure and stimulate the economic activities while ensuring the CEB yields sufficient revenue,” Ratnayake added. 

The PUCSL Chairman said that given all those facts, the PUCSL demands an immediate reduction of electricity tariff of 20 per cent. 

Overall electricity net generation for 2023, as per the latest forecast by CEB and actual generation figures until April, is tabulated below along with the PUCSL Forecast and CEB Forecast in January (5/1/2023).

A comparison of demand forecasts for 2023 by PUCSL, CEB in January (5/1/2023), CEB in April (24/4/2023) and actual generations are shown in the graph below.

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The Chairman of the Public Utilities Commission of Sri Lanka (PUCSL) Janaka Ratnayake has requested the Ceylon Electricity Board (CEB) to propose a tariff reduction considering the recent developments in the country that drive down the costs of the CEB.

Ratnayake told the media today that the electricity charges can be reduced by 30% under the current circumstances. 

The PUCSL Chairman said considering the actual data for the first quarter, the electricity demand in the country is 18% less compared to 2022 and this reduces the reliance on high-cost oil-fired thermal electricity generation. 

He further stated that apart from the demand, the US Dollar exchange rate has reduced from RS. 370 to around Rs. 325 which is a 13% reduction and thereby reduces fuel and other import costs of the CEB, adding that this alone would reduce costs by about 20% per annum.

Janaka Ratnayake also pointed out that apart from the above two cost drivers, the international fuel prices have reduced significantly, and as a result, the fuel costs to the CEB would reduce significantly. 

He revealed at present, the Richards Bay Coal index is at 133 USD/MT, Singapore PLATTS for Furnace Oil is 403 USD/MT, Singapore PLATTS for Diesel is 98.38 USD/bbl and Singapore PLATTS for high-quality chemical Naptha is 674 USD /MT. 

Via his letter dated 30th March 2023, the Chairman of the PUCSL has requested the CEB to propose a reduced electricity tariff structure capturing all these recent developments by 15th May 2023.

Full statement:

Chairman, Public Utilities Commission of Sri Lanka has requested CEB to propose a tariff reduction considering the recent developments in the country that drive down the costs of CEB.

Considering the actual data for the first quarter, the electricity demand in the country is 18% less compared to 2022. This reduces the reliance on high-cost oil-fired thermal electricity generation. 

Apart from the demand, the US Dollar exchange rate has reduced from 370 LKR/USD to around 325 LKR/USD, which is a 13% reduction and thereby reduces fuel and other import costs of CEB. This alone would reduce costs by about 20% per annum.

Apart from the above two cost drivers, the international fuel prices have reduced significantly, and as a result, the fuel costs to CEB would reduce significantly. At present, the Richards Bay Coal index is at 133 USD/MT, Singapore PLATTS for Furnace Oil is 403 USD/MT, Singapore PLATTS for Diesel is 98.38 USD/bbl and Singapore PLATTS for high-quality chemical Naptha is 674 USD /MT.

Following fuel prices with Government taxes were calculated using current international prices mentioned above.

Assumptions made – 

• Freight, insurance and handling charges of coal is 25 USD/MT
• Freight and premium for Furnace oil is 200 USD/MT
• Freight and premium for Diesel and Naptha is 15 USD/Bbl
• VAT is applicable to Coal imports
• 7.5% PAL is applicable to Furnace oil and Diesel
• 31 LKR/Ltr duty is applicable for Diesel
• No Taxes for Naptha

As a result of these cost changes and demand reductions the expected reduction in costs would be 30% as given below.

Via his letter dated 30th March 2023, the Chairman, PUCSL has requested the CEB to propose a reduced electricity tariff structure capturing all these recent developments by 15th May 2023. This is expected a provide much-needed relief to all consumers, especially the vulnerable Domestic category consumers and the SME sector of the economy. (NewsWire)

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